You may have heard us talking about our ground-breaking new partnership with Cheshire East Council. They’ve become the first community energy supplier to open for business in the UK since 1948 – that’s over 60 years ago.
In that time the energy industry has gone from hundreds of local generators and suppliers giving Brits huge amounts of local choice, to six giants who own 90% market share.
Last year we did a lot of thinking about how we can drive change, how we as an independent energy supplier can be instrumental in creating the tipping point which will shift power back to consumers. And what we discovered is that the issue lies in trust. We posed the question to ourselves, if energy companies aren’t trusted to supply energy, who might be?
The results were clear: people trust local over centralised and they trust small over big. Three times more people believe they would get a fairer deal from a local community energy supplier than a big energy company.
So we launched ‘OVO Communities’ back in April last year with the support of Ed Davey, the Secretary of State.
OVO Communities is a toolkit, a shareable platform, for local authorities, housing associations and community groups to become energy suppliers. Not necessarily to generate energy, though we’ll support that too, but actually to sell energy, like we do.
That was 11 months ago and here we are today launching a partnership which marks a seismic shift in the UK energy retail market as we know it. Today’s news also proves that you don’t need to be a big energy company to keep the lights on.
We’re proud to partner with Cheshire East Council as our first OVO Communities partner and we’re proud that - Fairerpower - the tariff created by Cheshire East Council exclusively for its 170,000 residents will be offering potential savings of up to £250 a year.
Fairerpower will also offer all the great benefits that OVO already provides its customers such as award winning customer service, a 3% interest reward on credit balances and no exit fees.
Over 500 households have registered interest in switching to Fairerpower and of the locals that have already switched we’ve recorded savings of between £240 - £256. What’s important to note is that these savings have been made by those who are savvy and switch yearly but also one family who hadn’t switched for over five years!
Our OVO Communities team are also working on two further partnerships with Peterborough City Council and Sounthend-on-Sea Borough Council that will launch imminently, so watch this space.
It’s time to bring power back to the people.
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OVO Energy Ltd, registered office 1 Rivergate Temple Quay Bristol, BS1 6ED, company no. 06890795 registered in England and Wales, VAT No. 100119879
Additional terms and conditions
Please see below for full terms and conditions on 33% renewable electricity, 3% interest rewards, exit fees and saving claims.
1Monthly cost - Representative monthly direct debit costs based on a non-economy-7, dual-fuel, medium user (3100 kWhs elec. and 12500 kWhs gas) paying in advance by direct debit, including online discount. All rates correct as of 23/08/16, but may go up or down.
2Weekly cost - Representative weekly costs based on a non-economy-7, dual-fuel, medium user (3100 kWhs elec. and 12500 kWhs gas). All rates correct as of 23/08/16, but may go up or down.
3Pay Monthly Savings are based on the average estimated annual costs for new PAYM OVO customers quoted through the OVO website (based on household and/or consumption information provided by those customers), compared to their current supplier and tariff. Comparisons taken between 01/01/2016 and 11/10/16. Incl VAT. Actual savings may vary according to your current supplier or tariff, individual tariff options, household information, consumption and location.
4Pay As You Go Savings are based on the average estimated annual costs for new PAYG OVO customers quoted through the OVO website (based on household and/or consumption information provided by those customers), compared to their current supplier and tariff. Comparisons taken between 01/01/2016 and 11/10/16. Incl VAT. Actual savings may vary according to your current supplier or tariff, individual tariff options, household information, consumption and location.
We include almost twice as much renewable electricity as the national average: At least 33% of electricity in all of our tariffs comes from renewable sources. The national average, according to Ofgem as at March 2014 was 16.7%. For more information please visit this page.
33% of your electricity comes from renewable sources: 33% renewable electricity as standard as of 1st April 2015. Renewable electricity is generated from wind, solar, geothermal, wave, tidal, hydro, biomass, landfill gas, sewage treatment plant gas and biogas.
3% interest: Calculated at 3% per year, paid monthly based on number of days in credit and the amount left in your account after you’ve paid your bill. OVO Interest Reward is capped at 12 times the amount of the current direct debit amount and is available to customers paying by advance direct debit. Terms apply: http://www.ovoenergy.com/terms/
95% of new customers save when switching to OVO: Based on all new customer signups between 01/02/2016 and 31/07/2016
94% of surveyed customers would recommend us: OVO conducted a survey of their customers in between 1st January 2016 and 15th April 2016. Out of 15,312 customers who responded, over 94% rated OVO 6+ when asked 'how likely would you be to recommend us to a friend and family, on a scale of 1 to 10.
Britain's top rated energy provider: Britain's top rated energy provider in the Which? 2015 satisfaction survey. Survey conducted in October 2015. Awarded in January 2016.